Mark Zuckerberg’s Meta has announced plans to deploy nonfungible tokens (NFTs) across 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas, according to a newsroom post updated on Thursday. As a result, Coinbase Wallet and Dapper wallet connections are now supported, as well as the ability to post digital collectables on the Flow blockchain. Instagram will be the first app to be affected by the new feature.
A digital wallet can be connected to Instagram’s NFT functionality for sharing NFTs, and attribution is automatically attributed to both creators and collectors. If you are an Instagram member, you can share NFTs in your main feed, your stories, or in messages. In addition to displaying public information, such as a description, a digital collectable will have a shimmer effect.
The news comes in the wake of a price hike for the Oculus headset and Meta posting over $2.8 billion in losses for its metaverse division.